JSTC vs. LBAY
JSTC (Adasina Social Justice All Cap Global ETF) and LBAY (Leatherback Long/Short Alternative Yield ETF) are both exchange-traded funds - JSTC is a Global Equities fund actively managed by Toroso Investments, while LBAY is a Long-Short fund actively managed by Toroso Investments. Both are actively managed. Over the past 5 years, JSTC returned 6.37%/yr vs 4.68%/yr for LBAY. At a 0.40 correlation, their price movements are largely independent. JSTC charges 0.89%/yr vs 1.09%/yr for LBAY.
Performance
JSTC vs. LBAY - Performance Comparison
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Returns By Period
In the year-to-date period, JSTC achieves a 10.39% return, which is significantly higher than LBAY's 3.90% return.
JSTC
- 1D
- -1.66%
- 1M
- 1.31%
- YTD
- 10.39%
- 6M
- 9.87%
- 1Y
- 17.39%
- 3Y*
- 13.94%
- 5Y*
- 6.37%
- 10Y*
- —
LBAY
- 1D
- 0.94%
- 1M
- -3.88%
- YTD
- 3.90%
- 6M
- 4.36%
- 1Y
- 4.26%
- 3Y*
- 2.12%
- 5Y*
- 4.68%
- 10Y*
- —
JSTC vs. LBAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JSTC Adasina Social Justice All Cap Global ETF | 10.39% | 12.02% | 8.96% | 15.67% | -17.58% | 19.28% | 2.48% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.90% | 4.08% | -3.49% | -8.54% | 22.41% | 22.27% | 0.71% |
Correlation
The correlation between JSTC and LBAY is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.40 |
Over the past year, the correlation between JSTC and LBAY has dropped to 0.04 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
JSTC vs. LBAY — Risk / Return Rank
JSTC
LBAY
JSTC vs. LBAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Adasina Social Justice All Cap Global ETF (JSTC) and Leatherback Long/Short Alternative Yield ETF (LBAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| JSTC | LBAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.06 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 0.31 | +1.45 |
| Martin ratioReturn relative to average drawdown | 7.11 | 0.80 | +6.31 |
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Drawdowns
JSTC vs. LBAY - Drawdown Comparison
The maximum JSTC drawdown since its inception was -26.82%, which is greater than LBAY's maximum drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for JSTC and LBAY.
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Drawdown Indicators
| JSTC | LBAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.82% | -15.99% | -10.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.93% | -13.61% | +3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -16.72% | -14.57% | -2.15% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -15.99% | -10.83% |
Current DrawdownCurrent decline from peak | -1.91% | -12.80% | +10.89% |
Average DrawdownAverage peak-to-trough decline | -6.54% | -6.84% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 5.33% | -2.88% |
Volatility
JSTC vs. LBAY - Volatility Comparison
Adasina Social Justice All Cap Global ETF (JSTC) has a higher volatility of 5.11% compared to Leatherback Long/Short Alternative Yield ETF (LBAY) at 4.22%. This indicates that JSTC's price experiences larger fluctuations and is considered to be riskier than LBAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JSTC | LBAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 4.22% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.47% | 12.52% | -1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.93% | 15.63% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 13.56% | +2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 13.76% | +2.04% |
JSTC vs. LBAY - Expense Ratio Comparison
JSTC has a 0.89% expense ratio, which is lower than LBAY's 1.09% expense ratio.
Dividends
JSTC vs. LBAY - Dividend Comparison
JSTC's dividend yield for the trailing twelve months is around 1.22%, less than LBAY's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JSTC Adasina Social Justice All Cap Global ETF | 1.22% | 1.34% | 1.11% | 1.03% | 0.83% | 0.96% | 0.00% |
LBAY Leatherback Long/Short Alternative Yield ETF | 3.89% | 3.80% | 3.77% | 3.47% | 2.74% | 2.96% | 0.29% |
Frequently Asked Questions
JSTC and LBAY have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JSTC has higher volatility (5.11%) compared to LBAY (4.22%). In terms of maximum drawdown, JSTC dropped -26.82% vs LBAY's -15.99%.
On 5-year performance, JSTC leads with 6.37% vs 4.68% for LBAY. On fees, JSTC is cheaper at 0.89% per year. On volatility, LBAY has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JSTC has performed better with a 6.37% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JSTC is cheaper with a 0.89% expense ratio, compared with 1.09% for LBAY.
LBAY has the higher dividend yield at 3.89%, compared with 1.22% for JSTC.
JSTC is categorized as Global Equities, while LBAY is Long-Short. Their fees differ too: 0.89% for JSTC and 1.09% for LBAY.
JSTC currently has the higher Sharpe Ratio (1.26 vs 0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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